Mortgage suit

Querist : Anonymous (Querist) 06 January 2021 This query is : Resolved
1. A customer avaialed two loan in a regional rural bank, charge created on agri land for first loan and limitation is expired for it.
2.. second loan secured by mortgage of agri land and within limitation
3. For both loan same property charge created and mortgaged.
4. Now the borrower deceased.
5. Borrower executed Mortgage including all legal hiers.

Whether bank can file mortgage suit against legal hiers including the first loan?

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SHIRISH PAWAR, 7738990900 (Expert) 07 January 2021
Hello,

A recovery suit can be filed for recovering the loan dues. If after the death of the borrower loan account is not closed by repaying the loan then the bank will attach the property mortgaged with them and file suit for recovering the balance amount due.

kavksatyanarayana (Expert) 07 January 2021
The query is not clear. In which bank he obtained two loans on the same property?.

Dr J C Vashista (Expert) 08 January 2021
What is your locus standi to the case ?

Advocate Bhartesh goyal (Expert) 08 January 2021
If limitation to initiate legal action against first loan expired then bank can not recover or initiate legal proceedings against first loan.

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